Tom Lee to @TheBTCTherapist:

Gold prices first rose, then Bitcoin surged even more, with funds flowing from gold to Bitcoin.

The viewpoint is agreed upon.

I checked the data,

In 2020 during the pandemic, gold first rose to a historical high, then Bitcoin skyrocketed from a few thousand dollars to over 60,000, doubling in value.

In the 2024 Federal Reserve interest rate cut cycle, gold first broke the record high, and then Bitcoin surged from over 60,000 to above 100,000.

In the 2016-2017 bull market, after gold steadily rose, Bitcoin surged from a few hundred dollars to 20,000, with clear capital inflow into crypto.

Haha, don’t be too happy too early,

There are also counterexamples,

In the 2022 bear market, gold remained relatively stable, but Bitcoin crashed over 70%, not following gold.

In the 2018 crypto winter, Bitcoin dropped from 20,000 to 3,000, while gold didn’t show much significant movement, not leading.

What’s more awkward is:

Recently by the end of 2025, gold rose over 55%, but Bitcoin dropped 30% from its peak, completely missing the rhythm.

Not every time is like this,

Many times the two decouple, with Bitcoin being more influenced by technology and policy.

It’s not a hard rule, more of an observational viewpoint.

#Bitcoin #Gold